The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more
6/7/2024
/ Anti-Fraud Provisions ,
Asbestos ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Disclosure Requirements ,
Insurance Industry ,
Oral Argument ,
Reorganizations ,
Reversal ,
SCOTUS ,
Standing ,
Truck Insurance Exchange v Kaiser Gypsum Co Inc
On November 8, 2023, Arrowood Indemnity was placed into voluntary liquidation in Delaware. Arrowood was the runoff entity for Royal Sun Alliance Insurance Group, and had been in operation for about twenty years, resolving...more
The United States Supreme Court agreed today to review a Fourth Circuit decision that denied an insurer standing to object to an asbestos producer’s Chapter 11 reorganization plan, on the basis that the insurer’s interests...more
In Hanson Permanente Cement, Inc. v. Kaiser Gypsum Co. (In re Kaiser Gypsum Co.), ____ F. 4th ____, 2023 U.S. App. LEXIS 3482 (4th Cir. Feb. 14, 2023), the Fourth Circuit ruled that an insured’s obligations under a typical...more
In a closely watched decision, the Court of Appeals for the Third Circuit ordered the dismissal of the Chapter 11 petition of LTL Management, LLC, the entity created by Johnson & Johnson to hold J&J’s talc-related liabilities...more
In a decision addressing several coverage issues under a directors and officers liability policy, a Delaware federal court held that coverage did not extend to claims based on acts alleged to have taken place before the...more
In Liberty Mut. Ins. Co. v. Jenkins Bros., 2022 N.Y. App. Div. LEXIS 1846 (App.Div. 1st Dept. March 22, 2022), the New York Supreme Court, Appellate Division, First Department, issued a ruling reversing the trial court and...more
A recent New York federal district court decision addresses a number of issues in the context of asbestos coverage involving an insolvent insured, holding that policy buyout agreements between the insured and its insurers did...more
Awarding summary judgment to an insurer under both liability and directors & officers (D&O) coverage parts, a New Jersey trial court reaffirmed the principle that claims of defective workmanship without resulting “property...more
On April 21, 2021, the Judiciary Committee of the Pennsylvania Senate voted 11-3 in favor of sending to the full Senate a bill that would grant a two-year window for individuals to commence previously time-barred civil...more
On Monday, February 1, Pennsylvania Governor Tom Wolf announced that due to the failure of the office of the Pennsylvania Secretary of State to publish a required notice, the Pennsylvania legislature will not be able to go...more